Pension reforms tackle unaddressed problems: Tsai

2017-05-19

Pension reforms tackle unaddressed problems: Tsai

Tsai said on Friday that her administration has pushed pension reform to solve problems that have gone unaddressed for decades. (CNA photo)

President Tsai Ing-wen says her administration has pushed pension reform to solve problems that have gone unaddressed for decades. Tsai was speaking Friday while meeting an overseas Chinese-language media group.

The reforms have come under fire from retired teachers, civil servants and military personnel. These are the groups who have most benefited from generous pension provisions until now and who stand to be most affected by the reforms.

But Tsai said the efforts are worthwhile if they can ensure that future generations will not have to fret about life after retirement.

“I know that some criticized the reforms for taking too long and not having a broad enough scope. But I want to remind everyone that pensions are crucial to the personal interests of each individual. It is a very, very complicated and difficult task. I think it has been worthwhile to take a full year to address a problem that has been left untouched for decades," said Tsai.

Tsai set up the National Pension Reform Committee under the Presidential Office soon after taking office last May. A draft reform bill has been submitted to the legislature.